Goldman Sachs Group Inc. Lowers Stock Holdings in Caleres, Inc. $CAL

Key Points

• Goldman Sachs Group Inc. reduced its stake in Caleres, Inc. by 5.7% in Q1, owning 324,596 shares worth approximately $5.59 million.
• Caleres has been rated "strong sell" by Zacks, and analysts forecast an earnings per share of 3.23 for the current year.
• The company declared a quarterly dividend of $0.07 per share, yielding 1.8%, with the ex-dividend date set for September 12th.

Goldman Sachs Group Inc. trimmed its stake in Caleres, Inc. (NYSE:CAL - Free Report) by 5.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 324,596 shares of the textile maker's stock after selling 19,517 shares during the period. Goldman Sachs Group Inc. owned about 0.96% of Caleres worth $5,593,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. American Century Companies Inc. raised its holdings in shares of Caleres by 6.0% in the 1st quarter. American Century Companies Inc. now owns 1,216,998 shares of the textile maker's stock valued at $20,969,000 after purchasing an additional 68,779 shares in the last quarter. Royce & Associates LP raised its holdings in shares of Caleres by 4.9% in the 1st quarter. Royce & Associates LP now owns 843,445 shares of the textile maker's stock valued at $14,533,000 after purchasing an additional 39,067 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Caleres by 5.4% in the 1st quarter. Invesco Ltd. now owns 811,952 shares of the textile maker's stock valued at $13,990,000 after purchasing an additional 41,434 shares in the last quarter. Paradigm Capital Management Inc. NY raised its holdings in shares of Caleres by 2.8% in the 1st quarter. Paradigm Capital Management Inc. NY now owns 738,500 shares of the textile maker's stock valued at $12,724,000 after purchasing an additional 20,000 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Caleres by 24.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 691,801 shares of the textile maker's stock valued at $11,920,000 after purchasing an additional 135,159 shares in the last quarter. 98.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Zacks Research lowered shares of Caleres from a "hold" rating to a "strong sell" rating in a report on Friday, August 29th. Loop Capital reduced their price target on shares of Caleres from $16.00 to $14.00 and set a "hold" rating for the company in a report on Friday, May 30th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Caleres has a consensus rating of "Reduce" and an average target price of $14.00.

Caleres Price Performance

CAL stock opened at $15.60 on Tuesday. The firm's fifty day simple moving average is $14.65 and its 200-day simple moving average is $15.08. The company has a market capitalization of $527.84 million, a P/E ratio of 8.91 and a beta of 1.07. Caleres, Inc. has a 12 month low of $12.09 and a 12 month high of $34.53.

Caleres (NYSE:CAL - Get Free Report) last released its quarterly earnings data on Thursday, September 4th. The textile maker reported $0.35 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.16). The business had revenue of $658.52 million during the quarter, compared to analysts' expectations of $656.93 million. Caleres had a net margin of 2.26% and a return on equity of 11.91%. The firm's revenue was down 3.6% on a year-over-year basis. During the same period last year, the company earned $0.98 earnings per share. As a group, sell-side analysts forecast that Caleres, Inc. will post 3.23 earnings per share for the current year.

Caleres Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.8%. The ex-dividend date is Friday, September 12th. Caleres's dividend payout ratio (DPR) is currently 16.00%.

About Caleres

Caleres, Inc engages in the retail and wholesale of footwear business in the United States, Canada, East Asia, and internationally. It operates through Famous Footwear and Brand Portfolio segments. The company offers licensed, branded, and private-label athletic, casual, and dress footwear products. The company provides brand name athletic, casual, and dress shoes, including Nike, Skechers, adidas, Vans, Crocs, Converse, Puma, Birkenstock, New Balance, Under Armour, Dr.

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